NHPC IPO to open on August 7

NHPC IPO to open on August 7State-owned NHPC, a hydroelectric power generating company, is entering the market with an initial public offer (IPO) on August 7, 2009.

The company plans to raise nearly Rs 6,000 crore through sale of shares in a price-band of Rs 30-36 in an IPO (initial public offer).

NHPC Limited, a Mini Ratna (Category I) Central Government Public Sector Unit is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India.

The company will utilize the net proceeds for its future expansions and part finance the construction and development costs of certain of identified projects. The issue will close on 11 August 2009.

Enam Financial Consultants, Kotak Mahindra Capital Company and SBI Capital Markets are the managers to the offer.